Frontdoor (NASDAQ:FTDR) Sees Large Volume Increase - What's Next?

Shares of Frontdoor, Inc. (NASDAQ:FTDR - Get Free Report) saw strong trading volume on Friday . 1,299,807 shares were traded during trading, an increase of 88% from the previous session's volume of 691,307 shares.The stock last traded at $44.77 and had previously closed at $46.21.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FTDR shares. The Goldman Sachs Group dropped their price target on Frontdoor from $46.00 to $40.00 and set a "sell" rating for the company in a research note on Monday. Truist Financial upped their price target on shares of Frontdoor from $58.00 to $67.00 and gave the company a "buy" rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $50.25.

Frontdoor Stock Up 3.3 %

The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.16. The company has a market cap of $3.19 billion, a P/E ratio of 13.87 and a beta of 1.08. The business's 50 day moving average is $56.95 and its 200 day moving average is $53.74.

Insider Activity at Frontdoor

In related news, COO Evan Iverson sold 16,000 shares of the company's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $58.84, for a total transaction of $941,440.00. Following the transaction, the chief operating officer now directly owns 4,955 shares of the company's stock, valued at $291,552.20. This represents a 76.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kathryn M. Collins sold 25,784 shares of Frontdoor stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $58.06, for a total transaction of $1,497,019.04. Following the completion of the sale, the senior vice president now owns 9,429 shares of the company's stock, valued at $547,447.74. This trade represents a 73.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

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Institutional Trading of Frontdoor

Institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. grew its position in shares of Frontdoor by 362.8% in the third quarter. Meeder Asset Management Inc. now owns 24,590 shares of the company's stock valued at $1,180,000 after purchasing an additional 19,277 shares in the last quarter. Verition Fund Management LLC grew its position in Frontdoor by 255.5% in the third quarter. Verition Fund Management LLC now owns 21,757 shares of the company's stock worth $1,044,000 after acquiring an additional 15,637 shares during the period. Atria Investments Inc purchased a new stake in Frontdoor in the third quarter valued at $315,000. Geode Capital Management LLC increased its position in shares of Frontdoor by 3.7% during the third quarter. Geode Capital Management LLC now owns 2,113,474 shares of the company's stock valued at $101,442,000 after acquiring an additional 74,542 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Frontdoor by 315.3% in the 4th quarter. Blue Trust Inc. now owns 1,632 shares of the company's stock valued at $89,000 after purchasing an additional 1,239 shares during the last quarter.

Frontdoor Company Profile

Frontdoor, Inc provides home warranties in the United States in the United States. Its customizable home warranties help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. The company's home warranty customers subscribe to an annual service plan agreement that covers the repair or replacement of principal components of approximately 20 home systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as electronics, pools, and spas and pumps; and heating, ventilation, and air conditioning systems.